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Bucharest
September 20, 2021
BUSINESS

EUR 22 M EBRD loan to improve water infrastructure in Iasi

Residents of the county of Iasi will gain access to clean water with the support of a EUR 22 M loan provided by the EBRD to ApaVital Iasi, a press release informs. The funds will be used to part-finance the extension and rehabilitation of water supply and wastewater collection systems in 16 locations across the county. The project is part of the EU Cohesion Funds programme for Iasi, worth a total of EUR 136 M. ApaVital Iasi provides water and wastewater services to the City of Iasi and a number of towns and villages in the county, with a total population of over 800,000.

Under the modernisation programme 90 per cent of the county’s population will be serviced by a wastewater collection and treatment system which is compliant with EU regulations and standards. The EBRD loan is part of the EUR 200 M Regional EU Cohesion Fund Water Co-Financing Framework (R2CF) set up by the Bank in order to help Romanian municipalities benefit from the financing available from EU Cohesion Funds. Technical cooperation support for the project is provided by the EBRD Shareholder Special Fund.

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